Zimo temporary insolvency Dec 2017 - Q1 2018

[34theletterbetweenB&D]

...The company is currently being continued under the supervision of a bankruptcy administrator, and operations are continuing as planned in all areas. The house bank plays along, agreements were reached with the suppliers for the supply of materials. In January, the court is to be presented with a recovery plan, but in which there should not be much to renovate...

 

 

 This is much as the status we already had posted here 5 December 2017, it's a local newspaper  tardily catching up in early January with what was already known:

 

 

From an Austrian news publisher:

 

The full (German) text: https://www.news.at/a/wien-modellbahn-zulieferer-zimo-8524447

1.48 Million Euros is quite a lot of tax!

 

Translation:

Vienna

Tuesday, December 5, 2017 by apa

Model train suppliers Zimo is insolvent

 

Vienna - Model railway supplier Zimo is insolvent © Image: apa / Oliver Berg / dpa

 

The total liabilities amount to 1.48 million euros. Affected are 33 employees and around 80 creditors.

 

The Viennese model railway supplier Zimo Elektronik GmbH is insolvent. According to the credit protection association AKV Europa, a bankruptcy procedure was opened at the Vienna Commercial Court. The total liabilities amount to 1.48 million euros. Affected are 33 employees and around 80 creditors.

 

The company develops or produces digital control systems for model railways. For example, production of control desks or sound decoders. According to AKV, the main customers are European producers of miniature railways.

 

The exact insolvency causes would have to be checked in the procedure, it was said. A continuation of the enterprise is aimed at, besides a rehabilitation plan was announced. According to the debtor, a quota of 100 percent is being considered, reported the AKV.

 

 

The next real news update will be 'Zimo out of administration', in other words operating as an independent business once more.

 

That will mean that "The exact insolvency causes would have to be checked in the procedure" has reached a conclusion about what went wrong, and set in place some provision to ensure it cannot happen again.

 

And look at the detail between these two reports. If we assume both were accurate at time of writing, December, 33 employees, January, 28 employees; that's 5 staff gone which is a significant workforce reduction if both reports have the numbers right. It's a sad fact that these events very often result in such things, even when the business comes out of it still operating successfully.

[Shropshire Lad]

This is much as the status we already had posted here 5 December 2017, it's a local newspaper  tardily catching up in early January with what was already known:

 

 

 

The next real news update will be 'Zimo out of administration', in other words operating as an independent business once more.

 

That will mean that "The exact insolvency causes would have to be checked in the procedure" has reached a conclusion about what went wrong, and set in place some provision to ensure it cannot happen again.

 

And look at the detail between these two reports. If we assume both were accurate at time of writing, December, 33 employees, January, 28 employees; that's 5 staff gone which is a significant workforce reduction if both reports have the numbers right. It's a sad fact that these events very often result in such things, even when the business comes out of it still operating successfully.

ZIMO came out of Administration on the 5th of March.

[Kylestrome]

Viel Lärm um nichts!

(Much ado about nothing!)

Edited March 19, 2018 by Kylestrome

[Simond]

I hope so, because their website is currently unavailable, or so it seems

 

Trying to get a link for a pal to download the manual

 

Best

Simon

[Philately]

As of 16.15 today I accessed the Zimo site without difficulty.  If it was unavailable earlier it was probably being updated -  a not unusual occurrence at weekends.

 

Richard

[Simond]

Thanks Richard,

 

It would appear that it was temporary

 

http://www.zimo.at/web2010/documents/MX-KleineDecoder_E.pdf

 

Best

Simon